Haining City Xinsheng Hardware Factory
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Haining Xinsheng Hardware Factory
ANNT:sophie   13567307568 
Add:NO. 11 Liancheng Road, Liann- ong, Yanguan Town, Haining City, Zhejiang Province.

Starshine plans to list on Ace Market by Q3
2011-4-23 11:37:52   Hit:1
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The new pipe mill line is expected to be commissioned in the fourth quarter while the new shearing line to be operational in the second quarter of next year. They will collectively increase the group's production capacity by 10,500 tonnes per month.

“To further optimise our stamping line, which is used for the manufacture of drawer slides at a utilisation rate of 41%, we are exploring the manufacturing of television mounting brackets for the electrical and electronic industry.

“We believe that these products have market potential in view of the increasing popularity of liquid crystal display (LCD) and light emitting diode (LED) televisions,” said SHB.

The company has started to design some of the television mounted brackets, which it planned to commercialise by the fourth quarter.

On market expansion, SHB said it was exploring opportunities to form strategic alliances or joint ventures with its suppliers, customers or other industry players within the value chain.

The move would enable the group to enjoy the economies of scale, increase its customer network and product offerings and diversify its business risk.

SHB, an investment holding company, will have four wholly-owned subsidiaries involved in manufacturing and trading businesses on completion of an on-going group's reorganisation exercise.

The subsidiaries are Star Shine Marketing Sdn Bhd (SSM), Star Shine Steel Products Sdn Bhd (SSP), Star Shine Global Trading Sdn Bhd (SSGT) and Star Shine Industries Sdn Bhd (SSI).

SSM is involved in the trading of galvanised iron and pre-painted galvanised iron steel sheets in coils while SSP is engaged in the processing and trading of long and flat steel products.

SSGT trades flat steel products while SSI's core business is manufacturing and trading of steel tubes and pipes as well as drawer slides.

For the financial year ended Dec 31, 2010 the four subsidiaries registered a combined pre-tax profit of about RM8mil on a turnover of RM405mil.

SHB will become a 54.49% subsidiary company of YKGI on completion of the reorganisation exercise. However, upon SHB's listing, YKGI's stake in SHB will be reduced to 33.09%.

In a recent annoucement, YKGI said while the proposed listing would help SHB to tap the capital market for its future expansion, it would enable YKGI to unlock the value of its investment in SHB group.

YKGI, which produces galvanised and coated steel products, owns and operates three plants in Klang Valley and one in Demark Laut Industrial Estate, Kuching.

Under the floatation exercise, SHB proposes to undertake an IPO of 135mil shares,of which some 35.7mil shares would be made available for application by the public and nearly 22.3mil shares for placement to selected investors.The issue price of the SHB shares has yet to be determined.

Upon listing, SHB will have an issued and paid-up share capital of RM45mil.

Author: Haining Xinsheng Hardware Factory
main product:drawer slides
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